PracticeConsultingParity Group shares fall after announcing revenue slump

Parity Group shares fall after announcing revenue slump

Parity Group shares fell 25% on Friday after the IT services company said H1 2002 revenue figures for its resourcing solutions division fell 'by approximately 20%' and a 'small loss' is anticipated for the period.

The company expects office closures and headcount reductions implemented within its resourcing solutions division earlier this month to help produce better figures for the second half of the year.

Parity is also in discussions with a third party regarding a technology staffing joint venture and acquisitions on behalf of Parity’s other European divisions.

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